Coterra Energy Inc. Announces Quarterly Dividend of $0.21 (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA) declared a quarterly dividend on Thursday, October 31st,NASDAQ Dividends reports. Shareholders of record on Thursday, November 14th will be paid a dividend of 0.21 per share on Wednesday, November 27th. This represents a $0.84 annualized dividend and a yield of 3.29%. The ex-dividend date is Thursday, November 14th.

Coterra Energy has raised its dividend payment by an average of 26.0% per year over the last three years. Coterra Energy has a dividend payout ratio of 34.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Coterra Energy to earn $2.25 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 37.3%.

Coterra Energy Trading Up 1.4 %

Shares of CTRA opened at $25.57 on Wednesday. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $28.90. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $23.82 and its 200-day moving average price is $25.49. The firm has a market capitalization of $18.84 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.64 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the company posted $0.47 EPS. Sell-side analysts anticipate that Coterra Energy will post 1.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CTRA shares. Stephens raised their price objective on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Truist Financial cut their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Morgan Stanley lowered their target price on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. cut their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Finally, UBS Group lowered their price objective on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.29.

About Coterra Energy

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.